JOSH KOSMAN

Congress limited interest tax deductibility, to 30 percent of taxable income, during the Obama years, relaxed it during the pandemic allowing companies to take essentially all the interest they pay on loans off their taxes, but then starting in 2023 limited it again to 30 percent despite the private equity industry's lobbying efforts... So might private equity firm owned companies cause the next great credit crisis when they succumb to rapidly rising interest rates?... The six last US Treasury Secretaries: Steven Mnuchin, Jacob Lew, Tim Geithner, Henry Paulson, John Snow, and Paul O'Neill have all worked for private equity firms giving the industry an air of respectability.